Venture Global (NYSE:VG) Shares Gap Up – Here’s What Happened

Venture Global, Inc. (NYSE:VG)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $10.89, but opened at $11.51. Venture Global shares last traded at $11.67, with a volume of 1,507,345 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group set a $20.00 target price on Venture Global and gave the company a “buy” rating in a research note on Friday, March 7th. Bank of America began coverage on shares of Venture Global in a report on Tuesday, February 18th. They issued a “buy” rating and a $23.00 price target on the stock. Royal Bank of Canada began coverage on Venture Global in a report on Tuesday, February 18th. They issued an “outperform” rating and a $20.00 target price on the stock. Mizuho reduced their target price on Venture Global from $25.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Venture Global in a research note on Tuesday, February 18th. They issued a “buy” rating and a $19.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Venture Global currently has an average rating of “Moderate Buy” and an average target price of $17.55.

Venture Global Stock Up 3.5 %

Venture Global (NYSE:VG) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.52 billion for the quarter. On average, equities analysts anticipate that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.0165 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, March 10th.

Insider Activity

In other Venture Global news, insider Robert B. Pender acquired 250,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $9.37 per share, for a total transaction of $2,342,500.00. Following the completion of the purchase, the insider now owns 250,000 shares in the company, valued at approximately $2,342,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jimmy D. Staton acquired 49,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $10.13 per share, for a total transaction of $496,370.00. Following the completion of the purchase, the director now owns 49,000 shares of the company’s stock, valued at approximately $496,370. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 803,000 shares of company stock worth $8,108,260. Company insiders own 4.72% of the company’s stock.

About Venture Global

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.